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Monday, 16 December 2013 15:20

Gold, silver rise ahead of Fed policy meeting

NEW YORK (AP) - Prices for gold and silver are rising ahead of the Federal Reserve's two-day policy meeting this week. Gold was up $9.80, or 1 percent, to $1,244.40 an ounce and silver rose 50 cents, or 3 percent, to $20.10 an ounce on Monday. The Federal Reserve will hold its last policy meeting of 2013 this week. The Fed will likely keep its economic stimulus measures in place at least through March, according to a recent survey of economists. That could affect the dollar and commodities such gold and silver, which are priced in dollars. In other commodities, crude oil was up 88 cents to $97.48 a barrel and natural gas fell 7 cents to $4.27 per 1,000 cubic feet. Corn and wheat prices fell while the price for soybeans was up.